BASF to invest €6bn in Ludwigshafen ahead of “sharp” increase in workers retiring
21/10/2015
The company will invest €6 billion at the site between next year and 2020, maintaining levels of research and development work in Ludwigshafen, but also making provision for the “great challenge” the company is preparing to face because of demographics.
“By 2020, one in two employees at the Ludwigshafen site will be older than 50,” BASF has said in a statement. “From 2018, the number of employees retiring will start to increase sharply.”
To ensure that it can meet its demand for skilled labour, the company went on to say that it will use some of the €6 billion to offer vocational training and flexible qualification programmes to existing employees as part of an effort to carry out “effective knowledge transfer” between more experienced employees who are preparing to retire and less experienced people who will remain.
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